The New Nation - Internet Edition

BTCL to introduce wireless telephone connections

NATION BUSINESS REPORT

Bangladesh Telecommunication Company Limited (BTCL) is planning to introduce wireless telephone connection instead of cable connections to check continued pilfering of cables.

Special Assistant to the Chief Adviser on Post and Telecommunication Ministry Brig General (Retd) MA Malek gave a

guideline in this regard to concerned officials.

It said there are about 12.5 lakh telephone connections across the country, which are totally depended on cables. As such the post of lineman at the field level in BTCL is very vital.

In case a telephone gets disconnected, it is the linemen who repair the fault in the cable. Cables worth taka 60 lakh were stolen in past six months, the sources said.

The phone also gets disconnected when digging take place in the roads. Giving telephone connections through setting cables miles after miles is a backdated system, it said.

Brig General (Retd) MA Malek said that telephone cables are often stolen, which causes sufferings to the customers.

"If such incidents continue to happen, the customers would be discouraged to subscribe BTCL connections, he added.

He said, like other private companies, the state-owned company BTCL should also provide telephone connections through wireless system.

The special assistant further said that Teletalk has taken a new initiative to improve its network coverage in the Chittagong Hill Tract areas.

Teletalk has now 20,000 connections in the municipality areas under Rangamati, Khagrachari and Banderban districts.

Another source said, a summary with some amendments and inclusions in the BTRC act has been sent to the cabinet division to make BTRC more dynamic and effective. The Post and Telecommunication Ministry prepared the summary suggesting for more autonomy for BTRC.

Brig General (Retd) Malek said the summary would be sent to the Advisers' Council for approval.

General Pharmaceuticals Ltd to get Tk 650m as term loan from 9 banks

NATION BUSINESS REPORT

General Pharmaceuticals Limited (GPL), a leading pharmaceuticals company of Bangladesh, is going to get Tk 650 million as term loan by the endeavor of Eastern Bank Ltd (EBL) with eight other foremost banks of the country through syndication.

Recently an agreement has been signed with the participating banks at Dhaka Westin Hotel.

The participating banks in this venture are Eastern Bank Ltd, AB Bank Ltd, Bangladesh Commerce Bank Ltd, Dutch-Bangla Bank Ltd, National Bank Ltd, One Bank Ltd, Pubali Bank Ltd, Standard Bank Ltd and Trust Bank Ltd.

In the signing ceremony, Managing Director of GPL Dr Momenul Haq said the construction of the new factory would be commenced this year under the guideline of UKMHRA, TGA and PICS.

Master plan of this factory, along with the state of the art production facility is designed by the world renowned Australian consultant APC.

Haq also informed that upon completion of the construction, GPL would be able to export pharmaceutical products to Middle Eastern and European countries apart meeting the local demands.

Ali Reza Iftekhar, MD and CEO of EBL expressed his appreciation to all the partners for their wholehearted support towards achieving the financial close of this milestone transaction.

The Managing Directors, Chief Executive Officers and top executives of all the participating banks were present on the occasion.

Citibank to offer micro entrepreneurship award today

Citibank, NA Bangladesh, will hold its 'Final Prize Giving Ceremony of 'Citi Microentrepreneurship Awards 2008' today at the Bangladesh-China Friendship Conference Center in the city.

The ceremony will be jointly organized by Citibank, NA Bangladesh and Shakti Foundation for Disadvantaged Women (SFDW).

The awards would be presented in four categories-Best Innovative Micro Business of the Year, Best Woman Micro-entrepreneur of the Year, Best Micro-entrepreneur of the Year and Best Micro-finance Institution (MFI) of the Year.

Finance Adviser Dr A B Mirza Azizul Islam will be the chief guest on the occasion.

Prime Bank raises Tk 11 billion from syndication credit market

NATION BUSINESS REPORT

Prime Bank Limited, one of the leading private commercial banks of the country, has raised Tk 11 billion from local syndication credit market in the last 10 years.

The bank has been extending credit facilities through syndication not only to the large projects but also to the small and medium projects with the objective to share and diversify the risks associated with the credit.

It was stated at the inaugural session of a daylong workshop on 'Syndications & Structured Finance--Practices in Bangladesh' organised by Prime Bank Limited for Bangladesh Bank officials at a city hotel on November 18 last.

Murshid Kuli Khan, Deputy Governor of Bangladesh Bank inaugurated the workshop as the chief guest.

M Ehsanul Haque, Managing Director of Prime Bank Limited was present at the workshop as special guest.

A total of 17 senior officials from various departments of Bangladesh Bank attended the workshop.

The syndicated credit market in the country is developing rapidly owing to the imposition of regulatory limit by the central bank, diversification of risks and in-depth analysis of the project by more than one analyst for large projects etc.

Many local banks and financial institutions are coming ahead to take part in the syndication market as lead arranger and also for functioning as agent, which is the core function of any syndication loan process.

The major area of the workshop were: understanding the loan market and syndication instruments, syndication loan process, factors of syndication credit market, role of mandated lead arranger and agent, structuring of syndication deal, documentation and various legal aspects of syndication loan, risks involved in syndication market and challenges faced in syndication credit market in Bangladesh etc.

Prime Bank Limited created its distinct position among the foreign and local commercial banks as Mandated Lead Arranger (MLA) and developed expertise through syndication financing in different sectors.

It played role as Lead Arranger in glass manufacturing, pharmaceuticals, independent power project, textile industry, chemical, agro-based industry and infrastructure developments projects etc.

Md Mehmood Husain, DMD and Md Touhidul Alam Khan, SVP and Head of Syndications and Structured Finance Unit were the key speakers of the session and Md Tabarak Hossain Bhuiyan, EVP and Head of Human Resources Division conducted the session.

Mahbubul Alam, DMD, M. Reazul Karim, DMD, Ahmed Kamal Khan Chowdhury, DMD and other senior officials from Prime Bank Limited also attended the workshop.

Italian team calls on Pubali Bank MD to set up jt venture industry

NATION BUSINESS REPORT

A team from Maschio Gaspardo SpA of Italy, represented by Egidio Maschio, President along with Tatjana Nikolajewba Gegg, Stefano Paoloni and Mario Ranucci called on Chief Executive Officer and Managing Director of Pubali Bank Limited Helal Ahmed Chowdhury recently.

Managing Director of The Metal (Pvt) Limited Engr Sadid Jamil and General Manager of International Division of PBL Syed Mohammad Masum were also present at the meeting.

At the meeting, they discussed various matters related to future investment plan, specially to set up a joint venture industry to manufacture their products.

During the discussion, Helal Ahmed Chowdhury mentioned that Pubali Bank had been playing an important role by providing syndicated loan facilities along with other banks of the country.

The Pubali Bank CEO also assured of continued support to local and foreign entrepreneurs and industrialists.

Maschio Gaspardo SpA is the manufacturer of world nenowned Maschio Rotary Tiller, Terranova and other cultivators, and marketing those in Bangladesh with the assistance of their sole distributor The Metal (Pvt) Limited.

GE Energy's Jenbacher gas engines to bring power to rural Bangladesh

Jenbach, Austria

A new 93-megawatt, independent power plant will feature GE Energy's Jenbacher gas engines to provide needed power to thousands of homes in Bangladesh as part of major rural electrification initiative.

The project is one of the latest to be developed by independent power producers (IPPs) that are rapidly building new power plants-with government support-to improve electricity supplies in rural areas of Bangladesh that do not have reliable transmission grids.

Shahjibazar Power Co Ltd, an independent power producer (IPP), recently ordered 32 of GE's natural gas-fueled J620 GS Jenbacher engines, which will be installed at a site located about 180 kilometers north of Dhaka, the nation's capital. This marks GE Energy's largest order for Jenbacher gas engines.

IPP projects in Bangladesh, including Shahjibazar Power Co's new initiative, require government approval since they are also sponsored by the World Bank, underscoring the importance of these distributed energy projects to the nation's economic growth.

"As Bangladesh's economy continues to grow, the government and private sectors are seeking solutions to improve the country's energy infrastructure," said Prady Iyyanki, CEO of GE Energy's Jenbacher gas engine business. "GE's fuel-flexible Jenbacher engines are a cost efficient, highly reliable power generation solution, making them suitable for a variety of projects in Bangladesh and throughout South Asia."

The units for the Shahjibazar project will be contained in two powerhouses and will generate 92.8 MW of electricity for the local grid. The engines are scheduled to be commissioned by the beginning of 2009.

GE's authorized Jenbacher engine distributor for Bangladesh, Orient Energy Systems, secured the engine order.

Through Orient Energy, GE is able to offer prompt and efficient local customer service to Shahjibazar Power Co. and other independent power producers in the region. More than 250

Jenbacher units have been sold in Bangladesh, creating an extensive energy industry awareness of the technology.

"GE's Jenbacher gas engine technology offers the durability, reliability and performance we need to help assure the success of our rural electrification initiative in support of continued economic success.

IBBL holds Internship Program for University Students'

The inaugural function of 'Internship Programme for University Students' was held recently at the auditorium of IBTRA organized by Islami Bank Training and Research Academy (IBTRA).

Principal Moulana Zainul Abedin, Vice Chairman, Board of Directors of the bank was present at the function as the chief guest.

Presided over by Md Jafar Ullah, Executive Vice President and Director General of IBTRA the function was attended, among others, by Md Rafiqul Islam and Dr Mizanur Rahman, Senior Vice Presidents and Md Omar Faruk Khan and Md Rokan Uddin, Vice Presidents of the bank.

Principal Moulana Zainul Abedin in his speech stressed upon the acquisition of knowledge.

He pointed out that the acquired knowledge should be practised in practical and professional life. He also emphasized upon moral education.

Al-Arafah Islami Bank opens its 48th branch

NATION BUSINESS REPORT

Al-Arafah Islami Bank Ltd opened its 48th branch at Nabiba Complex, Ambarkhana, Sylhet, on November 16 last.

Chairman, Central Shariah Board for Islamic Banks of Bangladesh Mufti Abdur Rahman was present as the chief guest and inaugurated the branch.

Muhaddis of Jamea Kwasimul Ulum, Dargah Hajrat Shahjalal (R) Moulana Abdul Basit Barkatpuri, Director of Islami Bank Bangladesh Ltd and Chairman of Women's Medical College, Sylhet Dr Shafiqur Rahman, Members of Board of Directors AlArafah Islami Bank Ltd Alhajj Abdul Malek Molla and Alhajj Harun-ur-Rashid Khan were present as special guests.

Managing Director of the bank M A Samad Seikh delivered the welcome speech. Member of the Board of Directors Alhajj Ahmed Ali was present at the function.

A large number of local peoples, businessmen, clients and well wishers were present on the occasion. Branch Manager Md Abu Taleb gave vote of thanks.

Ahsania Mission Cancer Hospital : Tk 16.1 lakh donation received in October

With the support of people from all walks of life, the construction work of the 500-bed Ahsania Mission Cancer Hospital (AMCH) at Uttara has been going on speedily. So far up to 10th floor, including two basements has been completed. Donations for the hospital received in the month of October 2008 stood at Tk 16.1 lakh.

Those who have donated are Nasreen Rahman Tk 10 lakh, Roksana Rahman Tk 5 lakh, Rowhan Akther Habib and late Prof Sadequl Alam Tk 50,000, Dr M Enamul Huq Tk 25,000, Md Iklil Mondal Tk 10,000, MA Mannan Tk 9,000, Alamgir Sikder (Loton) Tk 5,000, Engr Aminur Rahman Tk 2,000.

With the benevolent support of the government and people from all walks of life, this hospital is being constructed at Uttara in the capital. For timely completion of this cancer hospital, more than Tk 256 crore is needed. Dhaka Ahsania Mission fervently appeals to all corporate bodies, business organisations, and generous people to participate in this noble venture and help complete the health care project for the benefit of the people mainly poor and needy patients of Bangladesh.